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New Leadership for The Savings Bank and Savings Bancorp., Inc.

The Savings Bank Board of Directors is announcing the appointment of a new bank president. After 25 years in the position, Stephen Gary will relinquish the role on October 1, 2014, to long-time bank employee J. Jeff Farthing. Mr. Gary is not retiring. He will retain the position as president of the bank’s holding company, Savings Bancorp., Inc. and assume the role of Director of Community and Stockholder Relations, a job which allows him to remain involved in community relations.

“The Savings Bank Board of Directors has had a very solid succession plan in place for several years now. They are dedicated to maintaining the momentum and the community focus of the bank,” says Gary. “The appointment of Jeff to the role of president is proof.”

Stephen Gary has served as president and CEO of The Savings Bank since 1989, the longest-tenured CEO in the bank’s 102-year history. Under his leadership the bank expanded into Ashville and Williamsport, increased assets from $72.8 million to $315 million, and grew the number of employees to 65. The community bank is in the process of completing a $3.6 million complex in downtown Circleville, across from the bank’s historic main branch office.

“It has been exciting and a real honor to serve the people in our community through my capacity as the bank’s president,” Gary states. “Together, and with the community’s loyal support, the bank’s leadership and employees have built an institution that makes life better for everyone. I plan on continuing that role of enhancing our presence in our communities.”

The newly appointed president has been with the bank since 1991 and has been involved in the daily operations of the bank for over a decade. “Working closely with Mr. Gary has prepared me to make the most of this opportunity for the bank,” Farthing says.

Farthing holds a Bachelor of Science in Business Administration from Bowling Green State University, and a Masters of Business Administration from Capital University. He has managed staff, participated in technology advancements and grown the loan department by nearly 50% in the last 5 years.

“New products, technologies and services, the new complex — there’s a lot going on, and I am really looking forward to continuing on the successful path that Mr. Gary has forged for the Savings Bank. I am humbled by the confidence the Board of Directors and Mr. Gary have shown in promoting me to President, and I am honored to have the opportunity to lead great shareholders, employees and customers,” says Farthing.